Provision relating to Standard Deduction on Home Loan Interest applicable to Charitable Trust: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of section 24(a) of the Income Tax Act, 1961 relating to standard deduction on home loan interest shall be applicable to a charitable trust. Section 24 of the Income Tax Act lets homeowners claim a deduction of up to Rs. 2 lakhs (Rs. […]
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